onlinewbc.gov/docs/starting/test.html). Then, of course, you must concern yourself with the financial aspects. .
Financing can be a make or break area. If the business you are looking into has large start-up costs you will, most likely, need to obtain financing of some sort. This can include investors, bank loans, or grants and each usually requires a written business plan. Once you have everything in place financially you can finally start looking for a good location. .
Once you have decided on the type of business you are going for your research can become more specific. If you had chosen to open a restaurant you would take a look at the various types of restaurants: .
Casual dining- speedy - often theme based.
Family - speedy and broad customer range.
Ethnic.
Seafood - quick serve or midscale to upscale.
Steakhouse - midscale/upscale markets.
You would check into the competition in the area you were considering, do some research including statistics regarding the restaurant businesses in your area, as well as get information on suppliers, menus, printing, and advertising, just to name a few. The SBA web site (http://www.onlinewbc.gov/docs/starting/) contains a wealth of information on all areas of starting your own business.
This information gathering would allow you to make an educated decision before you actually opened your doors. Performing research for whatever business venture you are considering is not as difficult as it sounds. Much information can be found through your local Chamber of Commerce and, as mentioned previously, the Small Business Administration. Other possible sources of information would be: local business owners, real-estate agents, and on-line sources for statistics regarding specific businesses in your area. Fortunately, or unfortunately, depending on how you look at it, that is not how it happened for me.
The opportunity to become part owner of a coffee shop was put in front of me and I jumped in with both feet, a definite risk taker type move.